CFO Matt Ofilos to Exit Parsons Nov 6 for Another Opportunity
PSN sits 35% above its 52-week low of $36.26.
Summary
Parsons' finance chief Matt Ofilos is stepping down effective Nov 6 to take another job, and George Ball has been appointed interim chief financial officer effective Nov 6. The timing is awkward: it lands the same morning Parsons reported Q3 EPS of 51 cents and adjusted EPS of 89 cents on $1.65B revenue, with adjusted EBITDA up 6% and a margin of 10.2%, and after July's cut to 2026 revenue guidance to $6.2B-$6.5B. A CFO exit right after a guidance reset invites questions about the numbers and the outlook, and the market will want to know who signs off on the next quarter. Watch for a permanent successor before the Q4 report.
At the time of this announcement, PSN was trading at $48.95 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $36.26 to $88.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.